Is EverBank Legit? Safety, Rates and What to Know
EverBank is an FDIC insured national bank in Jacksonville, Florida, formerly TIAA Bank. Here is who owns it, how your deposits are insured and what its Performance Savings account pays.
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Yes. EverBank, N.A. is an FDIC insured national bank based in Jacksonville, Florida (FDIC certificate 34775), with about $46.7 billion in assets. It was called TIAA Bank until TIAA sold it to a group of private investors in 2023. Deposits are insured up to $250,000 per depositor, per ownership category. Its Performance Savings account pays 4.20% APY for new accounts with $0 to open (rate accurate as of Oct 23, 2026).
If EverBank’s savings rate caught your eye, the name change history can make it hard to tell who you are dealing with. Here is the short version: one bank, three names, the same FDIC certificate the whole time.
Who is EverBank?
FDIC records show the bank was established on Oct 1, 1998 as First Alliance Bank, renamed EverBank in 2004, renamed TIAA, FSB in June 2017, and became EverBank, N.A. on July 31, 2023. On Aug 1, 2023, TIAA completed the sale of the bank to funds managed by Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management, each holding a non controlling stake, according to Stone Point’s announcement. The bank kept its headquarters in Jacksonville and operates under a national bank charter supervised by the Office of the Comptroller of the Currency.
| Fact | EverBank |
|---|---|
| Legal name | EverBank, National Association |
| FDIC certificate | 34775 (active) |
| Headquarters | Jacksonville, Florida |
| Total assets | About $46.7 billion (Jun 30, 2026) |
| Deposits | About $37.8 billion (Jun 30, 2026) |
| Regulator | Office of the Comptroller of the Currency |
| Holding company | EverBank Financial Corp |
From the FDIC BankFind database, checked Oct 19, 2026.
Is my money FDIC insured at EverBank?
Yes, up to $250,000 per depositor, per ownership category, the same as at any FDIC insured bank. All your EverBank deposits in the same ownership category count toward one limit, including CDs and money market accounts. If you hold more than that, see how to insure more than $250,000. For what happens in the rare case a bank closes, see what happens if your bank fails.
What does EverBank Performance Savings pay?
| Feature | Details |
|---|---|
| APY | 4.20% on all balances, new accounts |
| Minimum to open | $0 |
| Minimum balance | None |
| Monthly maintenance fee | None |
| Interest | Compounded daily |
| How you bank | Online and by phone |
From EverBank’s Performance Savings page; APY accurate as of Oct 9, 2026, checked Oct 19, 2026. Rates are variable.
On $10,000, 4.20% works out to about $420 in a year if the rate stays the same. The FDIC national average savings rate is 0.38% (as of Oct 19, 2026).
What to watch for
- The rate is quoted for new accounts. EverBank says its APY is for new accounts only and may not apply to existing accounts. If you already have an EverBank savings account, check the rate on your own account rather than the advertised one.
- Online and phone only. Performance Savings is opened and managed online and by phone. EverBank also has financial centers in Florida, but you should not count on a branch.
- Rates are variable. Like every high yield savings account, the rate can drop at any time.
How to check you are dealing with the real EverBank
- Type everbank.com into your browser rather than following links in texts or emails.
- Search FDIC BankFind for certificate 34775 and confirm the name EverBank, National Association.
- Never share a password or one time code with someone who contacts you.
How it compares
EverBank’s 4.20% sits just under Peak Bank Envision at 4.27%, a gap of about $7 a year on $10,000, and EverBank needs $0 to open where Peak needs $100. See every account on our best high yield savings accounts page, the best FDIC insured savings accounts and the best online banks.
Our verdict
EverBank is legitimate: a large FDIC insured national bank with a long history under three names. Performance Savings is one of the simplest high rate accounts we track, with no minimum, no fee and no monthly rules. The main thing to know is that the advertised rate is for new accounts. Read our full EverBank Performance Savings review.
Frequently asked questions
Is EverBank a real bank?
Yes. EverBank, N.A. is an FDIC insured national bank in Jacksonville, Florida (FDIC certificate 34775) with about $46.7 billion in assets as of June 30, 2026.
Is EverBank the same as TIAA Bank?
Yes. TIAA Bank changed its name back to EverBank after TIAA sold the bank to a group of private investors on August 1, 2023. The FDIC certificate stayed the same.
Is EverBank FDIC insured?
Yes, up to $250,000 per depositor, per ownership category.
What is EverBank’s savings rate?
Performance Savings pays 4.20% APY for new accounts, with $0 to open and no monthly fee, as of Oct 23, 2026.
Who owns EverBank?
Funds managed by Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management, each with a non controlling stake, through EverBank Financial Corp.
Compare today’s top savings rates
Happen Bank LevelUp SavingsAPY as of Oct 23, 20264.20%with $250 or more in deposits each monthReview →
